Why A Mortgage Pre-Approval Gives You A Home-Buying Advantage

If you are planning to purchase a home soon, the first step should be getting Pre-Approved for your mortgage financing.

A Pre-Approval, as opposed to a Pre-Qualification, signifies that the loan application has already been taken and that you are approved as a buyer up to a certain price range, so your loan will be subject only to the property meeting the lender's approval guidelines.

Here's why Pre-Approved buyers are ahead in the home buying game:

♦ If you make an offer on a home and then apply for a loan, you are at the lender's mercy, who is aware that you do not have time to shop around.

♦ Pre-Approval saves time spent looking at houses you cannot afford.

♦ A Pre-Approval letter from a lender gives you an edge when multiple offers have been made on a house because sellers are assured you can close the deal.

♦ Pre-Approved buyers can generally close escrow more quickly, since most of the work has already been done. A quicker close is generally favored by sellers.

I work with several excellent lenders who can get you Pre-Approved, and I am happy to recommend my best loan officer associates to you.

Give me a call at 773-320-3800, tell me about your buying preferences and goals, and I can help you get going on your home buying journey with every possible advantage.